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Railroad Rehabilitation & Improvement Financing (RRIF)

Program Overview

The RRIF program was established by the Transportation Equity Act for the 21st Century (TEA-21) and amended by the Safe Accountable, Flexible and Efficient Transportation Equity Act: a Legacy for Users (SAFETEA-LU), the Rail Safety Improvement Act of 2008, and the Fixing America’s Surface Transportation (FAST) Act. Under this program the Department of Transportation is authorized to provide direct loans and loan guarantees up to $35.0 billion to finance development of railroad infrastructure. Not less than $7.0 billion is reserved for projects benefiting freight railroads other than Class I carriers.

The funding may be used to:

Acquire, improve, or rehabilitate intermodal or rail equipment or facilities, including track, components of track, bridges, yards, buildings and shops, and including the installation of positive train control systems;

Refinance outstanding debt incurred for the purposes listed above; and

Finance transit-oriented development (credit assistance only available until December 4, 2019).

Direct loans can fund up to 100% of a railroad project with repayment periods of up to 35 years and interest rates equal to the cost of borrowing to the government.

Eligible borrowers include railroads, state and local governments, government-sponsored authorities and corporations, limited option freight shippers that intend to construct a new rail connection, and joint ventures that include at least one of the preceding.

Executed Loan Agreements

The table below lists all executed RRIF loan agreements since program inception.

$32,732,533

2004

Stillwater Central Railroad

Retired

$4,675,250

2004

Wheeling & Lake Erie Railway

Retired

$25,000,000

2004

Dakota Minnesota & Eastern Railroad

Retired

$233,601,000

2003

Arkansas & Missouri Railroad

Active

$11,000,000

2003

Nashville and Western Railroad

Active

$2,300,000

2002

Amtrak

Retired

$100,000,000

2002

Mount Hood Railroad

Active

$2,070,000

Total

$6,286,446,760

Updated: Tuesday, February 12, 2019

RRIF Program Dashboard

The latest RRIF Program monthly dashboard is available here. This dashboard lists all draft RRIF applications, as well as summary information regarding the status of final applications, received by the Build America Bureau.

RRIF Credit Risk Premium (CRP) Cohort Definition

As required by the Continuing Appropriations Act, 2019, and the Save Our Seas Act of 2018, the Department of Transportation, in consultation with the Office of Management and Budget, has defined the term "cohorts of loans" as applicable to RRIF loans executed prior to the enactment of the FAST Act. Click here for a list of each RRIF loan within each cohort.

RRIF Loan Approved toDallas Area Rapid Transit

On December 21, 2018, U.S. Transportation Secretary Elaine L. Chao announced that the Department of Transportation's Build America Bureau will provide up to a $908 million RRIF loan to Dallas Area Rapid Transit for construction of the Cotton Belt Corridor Regional Rail project. Click here for the full Press Release.